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FOX
Dec 6, 2012 5:30pm EST
edge report. shawanmap3955apgbaa natl piiema- - 3 with the fiscal cliff tax season?a tax expprt joins us n studio next... to answer some questions in our take action thursday. 3 one judgees perculiar order. what he's prohibiiing one man from doing until he's able t pay back chhld support. 3 --adblib weather tz-- p, [ male announcer ] this commercial is not about getting fios; it's about getting fios. that moment after you finally got it, that you actually get it. when you can see blades of artificial grass in their full glory, you get it. or the first time you download a two-hour movie in two minutes, you get it. because once you've got it, you get it. [ female announcer ] it's faster. it's better. so, what are you waiting for? now you can get fios internet, tv and phone for just $79.99 a month guaranteed for two years with a two year agreement. act now and we'll add a special bonus -- $300 back. it's an amazing holiday deal. don't wait, this is a limited time offer. fios brings you internet ranked the fastest in the nation, and the best tv picture quality. it's 100% fiber optic, 10
FOX News
Dec 6, 2012 2:00pm PST
! >> eric: yes, the dreaded fiscal cliff. tax hike, spending cut and sequestion ration, whatever they are. belly flop the economy at once. comfortabling the know that d.c. is on top of it all. alex simpson, former senator and the guy that everyone thinks is a lifeguard at the fiscal pool. ♪ ♪ >> eric: okay, beckel is gangnam style. good to know we're in good hands but get serious, folks. >> any word from karl rove? >> despite what we're telling you, it's over. romney lost. >> i guess it's time i explain, the good people, the upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do you agree? >> greg: i do. >> bob: i think you're crazy. >> greg: funny that bob and i agree but for different reasons. fiscal cliff is a horrible med fore.
CNBC
Dec 12, 2012 7:00pm EST
the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and when did they discover that taxes are job kimmers? >> i thought that wasn't the case at all. you're right. they didn't just wake up to this. let's be completely honest about what happened here. they knew all along that the medical device tax was not just a job killer but would really stifle medical innovation. we've heard this from people across the spectrum. the people involved in this industry who are making america the leader when it comes to world medical innovation, they're saying this is really going to put a crimp in what we're able to accomplish. now at the last minute, the 11th hours, you have 18 johnny come late live democrats,
CBS
Dec 10, 2012 12:00pm PST
't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up, and across the board spending cuts will kick in on january 1st. economists say that combination would plunge the country back into a recession. >> reporter: there are signs some republicans will willing to compromise on taxes if they can secure cut to social security, medicare and medicaid. >> give the president the 2% increase that he is talking about, the rate increase on the top 2%, and all of a sudden the shift goes back to entitlement. >> reporter: one proposal under discussion, raising the eligibility age for medicare is not going over well with democrats and advocates for senior citizens. >> the option, for example, to raise the medicare age actually is bad policy and will increase costs, because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowers skyrocketing health care costs. in washington, danielle nottingham, cbs 5. >>> a hopeful sign for the economy, today is expected to be the biggest shipping day of the
CBS
Dec 10, 2012 12:00pm EST
hopeful but little progress was made. if they can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across the board spending cuts will kick in on january 1. economists say that combination could plunge the country back into a recession. there are signs some republicans are now willing to compromise on taxes if they can secure cuts to social security, medicare and medicaid. >> the rate increase on the top 2% that the president is talking about and all of a sudden the shift goes back to entitlements. >> reporter: one proposal under discussion, raising the eligibility age for medicare is not going well for some democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing health care costs. danielle nottingham, cbs news, washington. >>> the official fiscal cliff deadline is december 31. but many on capitol hill say that an agreement is need
PBS
Dec 7, 2012 4:30pm PST
to be weak due to worries about the fiscal cliff. with $600 billion in automatic tax hikes and government spending cuts set to start next yer, why aren't more firms postponing hiring decisions? >> what we're hearing from businesses is that it is really hard to actually pull back hiring right now, because they've already fired so many workers, gotten so lean that it's really difficult. >> reporter: but not all the surprises in the report were good. at 7.7%, the unemployment rate hit its lowest level since december 2008. but that was mostly due to people giving up their search for work. and there's another disappointing trend, weak wage growth. >> what we are not seeing is strong income generation. the slowing in wage gains-- the weak bargaining power of labor comes across in this report and >> reporter: so although the labor market is not getting worse, it's not getting a lot better, either. and there are plenty of risks that could cause businesses to cancel projects, and hiring plans. >> clearly one of the biggest risks is that we don't see a deal on the fiscal cliff, or that they drag it
FOX News
Dec 6, 2012 2:00am PST
-called fiscal cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being treated in new mexico. she was taken out of a hospital in phoenix. her mother took her. doctors are worried she could potentially get a deadly infection. the girl's father claims the hospital was to blame for a different infection which cost emily her right arm. he's refusing to tell police where she is in mexico. both parents could face criminal charges. >> shock, disgust and fear spread quickly on the campus of the university of -- one details the exact moment they realty lied they were in a major crisis. it reads subject emergency the shooter at the aurora mall last night was james holmes i am worried a
FOX Business
Dec 5, 2012 3:00pm EST
their payout dates ahead of the fiscal cliff. taxes may go up on dividends but given the prospect of higher taxes, will dividends actually be dead on arrival in 2013? and what is the next big thing? the senior portfolio manager, you are so not on the dividend train. i respect that because it is a crowded train, but if not dividends, then what? what characteristic should they have? >> you are absolutely right. it was a great ride, but i think it is time to get off. when we finish this fiscal cliff matter, think it will be some unintended consequences, and one of them will be the increase n stocks by back because of the tax situation. if you think like a cfo, it will be looking to see what the alternatives will be to use that cash on the balance sheet and buybacks are very attractive -@alternative and they will be n 2013. liz: they come at the market surprise, sometimes. don't they? announcing a stock buyback, you often to the stock pop on that news. they tell me shareholders are constantly pushing them to do a stock buyback. explain to investors what makes the stock move to the upside. >> a
CNBC
Dec 5, 2012 7:00pm EST
taxes on the rich, they were going to go over the fiscal cliff. but at the end of the day, if we do fall over the fiscal cliff, if taxes go december 31st, will the republican party be blamed? >> absolutely. right now, people aren't convinced that either the president or congressional republicans are serious about negotiating. but they're a lot more willing to believe that the president is negotiating in good faith. >> and let me ask you. is the republican party therefore becoming the party of the rich, defending the top tax brackets, and is obama becoming the party of the middle class? >> absolutely. and larry, the reason the republicans are in this fix right now is because they think these discussions and negotiations are about deficit reduction. president obama thinks they're about fairness. most americans, solid majority, want to see taxes raised on those upper income americans, even though only 19% think it will have much of an impact on deficits. it's not about the fiscal crisis. it's about fairness in the minds of most americans. president obama understands that and republicans don
CBS
Dec 10, 2012 4:00pm EST
. if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements. >> reporter: one proposal under discussion, raging the eligibility age for medicare is not going well for some dem -- democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs. because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing healthcare costs. in washington, danielle nottingham, wjz eyewitness news. >> well, the official fiscal cliff deadline is december 31st. many on capitol hill say an agreement is needed buyer
FOX Business
Dec 12, 2012 7:00pm EST
words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their products. americans get a tax deduction if their medical expenses exceed 7.5% of their total income that number rising to 10% for everyone under the age of 65. and government, for first time ever sending a limit on tax free flexible spending accounts, joint committee tax, estimates those 5 new provisions amount to $2 60 billion tax hike over next 7 years, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on when he unveiled his
MSNBC
Dec 5, 2012 11:00pm PST
the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000. they have a little room to leverage but right now they have zero leverage, zero. >> do you agree with that? i don't know if i agree with that. it's hard once the rates go back to 39.6 or whatever they go to, to go back and say, now we to want cut taxes for the rich. what's the reason to do it? the republican party says we have to stop the government, stop paying our debts, don't pay our bills anymore because we have to help out the rich now. that would be the worst situation to be in. >> as the conversation shifts really to the bottom line in the deficit. at the end of the day the whole thing is about -- it's optical illusions
MSNBC
Dec 6, 2012 2:00am EST
to continue the tax cuts for the 98% now and therefore avoid the fiscal cliff and put off for now the top 2%. and the question then, let the debt ceiling not take effect. a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that's going to affect your spending, your lifestyles, or the economy in any significant way. let's make sure that 98% of americans don't se
CNN
Dec 5, 2012 4:00am PST
putting his foot down. he says no tax hikes for the wealthy, no deal. america hits that fiscal cliff in 27 days and that means tax hikes and deep spending cuts if the democrats and the republicans can't come together in some kind of a deal and with just ten days remaining until congress is scheduled to go home for the holidays, the clock ticking. here's what he told bloomberg news. listen. >> we're going to have to see the rates on the top 2% go up and we're not going to be able it to get a deal without it. >> we start this morning with white house correspondent dan lothian, he's in washington, d.c. okay. so who's got the ball in their court at this point then, dan? >> well, you know, i think the house gop, they have presented their counteroffer which white house spokesman jay carney is referring to as, quote, magic beans and fairy dust. we expect that house republicans will keep putting pressure on the white house to engage, push for more details on what the white house will accept when it comes to additional entitlement cuts. but i think what's unclear is what kind of negotiating is goin
PBS
Dec 4, 2012 4:30pm PST
the country, i think this whole issue around taxes and around the fiscal cliff generally leads to something else, which is significant uncertainty. and whether it is delaware or whether it is any other state, one of the things that is most important to us is having business leaders have some kind of certainty about what the ground rules are going to be. not just for the next three months, by the way. but really for the next several years. they're more likely to invest, more likely to hire their next employee if they know what the game looks like. what the landscape looks like. and so as much as anything else, we think having that certainty, having that clarity on taxes and spending, is really important. >> susie: you said you are also very concerned about where growth is going to come from. did you discuss that with the president, won did he say, aside from tax increases and spending cuts? >> one of the things we specifically talked about was infrastructure. it didn't used to be that roads and bridges were democrat or republican. we need to continue to invest in our infrastructure, a strong
PBS
Dec 4, 2012 7:00pm PST
concerned about what the economic impact could be of going over the fiscal cliff. again, taxes going up on middle-class americans. some industry potentially coming to a standstill. so underlying everything else in our state is growth. if the economy is not growing, in fact, if it is contracting, it will be bad for tax receipts, and it will be bad because it means fewer people working. that's a critically important piece of it. the second thing is making sure as these negotiations take place, the impact on states, on local governments, on our citizens, is carefully considered. >> susie: governor markell, thec s thank you so muh for coming on the program. >> thank you. >> tom: from a governor's take, we now turn to the view from the private sector. some of the nation's leading c.e.o.s have banded together with deficit commission co- chairs erskine bowles and alan simpson to launch the "fix the debt" campaign. darren gersh spoke with maya macguineas, one of the organizers of the campaign. darren began by asking her if the business leaders are making a difference. >> i think the whole campa
FOX News
Dec 11, 2012 7:00pm PST
about the fiscal cliff and raising taxes on the wealthy. taxes on the wealthy are going to go up january 1st regardless what happens with the fiscal cliff. the medicare tax on higher earnersers is going up and a steep tax on investment income. >> going up 3.8% on top of it. so the rich people who have -- who are high earners, their income will probably go up. and then they also, if they have investment income, it goes up 3.8% so they are paying more that way, and they are paying more on a medicare tax. so the democrats say the rich aren't paying more. and these taxes are going up regardless what have happens with the fiscal cliff. these tacks are written in obamacare. and if taxes do i- deed go up on the top two brackets as a result of the fiscal cliff, that will be on top of the obamacare taxes. >> is there any way for us, the nation, to police the earnings or profits are insurance company under obamacare? there are all of these extra, they get the extra deals. now the insurance companies get the extra deals because they have lobbyists and probably sent them over to the white house and
CBS
Dec 5, 2012 6:30pm EST
the fiscal cliff unless republicans agree to tax increases. reports from major garrett and chip reid. elaine quijano on a new study that could lead to a major change in treatment for breast cancer. >> recurrence is something you live with for your entire life. >> pelley: a household name in computers is wanted in a murder investigation. bob orr reports he was tracked down by the technology he lived by. and we note two milestones: an eyewitness to this moment in history has died. then anthony mason will take five to remember dave brubeck, a giant of jazz. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, they've never said it quite like this: the president's treasury secretary made it clear there is no room for compromise. republicans must accept an increase in tax rates for upper-income americans. negotiations on a budget deal haven't gone very far and there are just 27 days before that so-called fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congr
FOX News
Dec 7, 2012 1:00pm PST
ago is 10 percent and the chance of the fiscal cliff and higher taxes killing the economy is probably 50 percent and, yes, you are right, we are still not fixing the problem or coming to a solution. one thing, remember, when we had the problem with the debt downgrade and the different talks a year ago? there were the scare tactics from washington about what would happen to interest rates, and what would happen to social security, and interest rates went down, people got their checks and everything was fine. >>neil: i am reminded of the words of the apollo 13 command other, can you not fake the magnitude of a disaster but washington can paper over a problem with cuts that are not real, and revenues that may not be what they appear to be, so, the fear is the same, it is presenting something that ultimately markets will not buy and people will not trust. >>guest: that is right. and, also, put in the notion it has to be done in the next three weeks or else, and look what has happened with the debt numbers. the nones are absolutely out-of-control. it will be over $20 trillion here in the n
FOX News
Dec 7, 2012 3:00pm PST
theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end
CNBC
Dec 6, 2012 4:00am EST
over the fiscal cliff if republicans don't give in on higher taxes for the wealthy. a little bit of trade data out of the uk. i didn't have a forecast for this. adjusted global goods trade deficit 9.5 billion. september unrevised. forecast here forecast at 8.65, so that is a wide deficit than forecast. adjusted 4.5 billion. sterling not reacting huge amount. european stocks today are firmer. up 0.4% for the ftse. xetra dax continues its strong momentum, we are trading at 52 week highs and up now about 27% for the year. bond markets which is where we stand with yields, spanish ten year yields slightly lower, but we were 5.2% beginning of the week was the handle. currency markets, not huge changes. euro-dollar just below 1.31, dollar-yen 82.44. euro trading, though, at a fresh day high it must be said. we have comments coming out of china on the smartphone segment. apple's rang in china smartphone market which will become the world's biggest this year down to number six in the third quarter. facing tougher competition from chinese brands. this is the research firm idc coming out wi
WHUT
Dec 9, 2012 8:00am EST
to the pressing economic deadline facing the united states, which has global implications. the fiscal cliff, a combination of tax increases and spending cuts. right now there is a political standoff, which the head of the imf, christine largarde, has a duty to stop. >> the fiscal cliff -- when you talk to people around the world, how concerned are they about the ramifications of americans going over this cliff? >> people around the world are concerned about it. it used to be the case that they were more concerned about the eurozone than the fiscal cliff. now things have changed. they often ask about it and its resolution. >> what do you think the impact could be globally? we're looking at a time when the global recovery is fragile at best. >> the u.s. is about 20% of the global economy. if the u.s. suffers as a result of the fiscal cliff, a complete wiping out of its growth, it is going to have repercussions around the world. if the u.s. economy has two% less growth, it will probably be a 1% less growth in mexico, canada, in europe, and japan. there will be ripple effects. >> are you worrie
CSPAN
Dec 8, 2012 6:00am EST
parts of this. when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in addition to. >> yes, in addition to. the problem with having that debate now sugge
CNN
Dec 8, 2012 9:00am PST
.s. goes over the so-called fiscal cliff. as christine romans reports, some homeowners could face a big tax bill. >> reporter: one in three homes in the third quarter sold short meaning you sell for less than you owe on it. right now you don't owe taxes on the forgiven debt. on the other side of the fiscal cliff you do. the mortgage forgiveness debt relief act gives homeowners a tax break on unpaid mortgage debt. it expires unless congress acts. >> the average amount homeowners are short is $95,000. if the tax break goes away as part of the so-called fiscal cliff they could be taxed on the $95,000 as additional income starting in 2013. >> how much homeowners will owe on that amount depends on the tax bracket they are in. on average it would be $20,000 to $25,000. banks have extra incentive to sell short and absorb the loss. under the act that went in this year the nation's biggest lenders get a credit on short sales. foreclosures also sell for $30,000 less than homes sold via short sales. expect short sales to jump more as homeowners look to avoid getting hit with taxes and banks look to av
CBS
Dec 10, 2012 4:00am PST
the fiscal cliff, the tax hikes and spending cuts due to kick in at year end. the president and house speaker john boehner met one on one at the white house on sunday. while no details were leaked, a rarity for washington, we do know the main sticking points remain. raising taxes on high earners and making cuts to entitlement programs like medicare. >> you know, they started their tango now, and any time you start a tango, you have to get it done. >> more republicans are accepting the idea that wealthy americans will get a tax raise hike. >> there are a group of folks looking at this realizing we don't have a lot of cards before year end. >> but others remain opposed to raising taxes on the top 2%. >> the president wants the rates to go up. that doesn't solve the problem, and we don't want to be back here in another year, another ten years trying to answer the question. >> the deadline for an agreement is closer than you might think. many here on capitol hill tell us that the president tell us they have to reach a deal by the end of this week in order for congress to have enough time to vote
CNBC
Dec 5, 2012 4:00am EST
the end of the year, concerns about whether the capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue, and if businessmen got into the room they could solve the problem much faster than congress. >>> adding his tuppence, he says they'll have to get used to it and the fiscal cliff is one of the reasons. >> we have structural influences that speak to the deleveraging, speak to aging demographics of the boomers, that speak to globalization and technology, all of which have been labor and job unfriendly. >> joining us with his views, the senior european economist at jeffries international. before we talk about europe, i'm just wondering if bill gross is right there, what kind of impact is that going to have for everybody else? >> well, in terms of the fiscal cliff, it is having an impact on the u.s. and driving growth there. the impact on europe is probably quite limited for the time being. most certainly europe has its own problems to worry about. we're still kind of waiting for this to be resolved. i think for the time being the problems are separate. but ultima
KRON
Dec 7, 2012 5:00pm PST
the toll of superstorm sandy and concerns about the fiscal cliff. tax increases and spending cuts are set to trigger after january first unless the white house and congressional republicans strike a compromise. house speaker john boehner said friday the president's current approach could hamper future job growth. >> because the risk the president wants us to take, increasing tax rates, will hit many small businesses that produce 60 - 70 percent of the new jobs in our country >> democrats argue that without tax increases on the the revenue necessary to combine with the savings and with the spending cuts to reduce the deficit, to create jobs, to grow the economy, to improve the lives of the american people. >> about twelve million americans remain out of work. economists forecast dire consequences without a washington, i'm karin caifa. >>catherine: this is the 71st anniversary of the date that will live in infamy. december 7th 19-41 was when the japanese attacked pearl harbor. this was a moment of silence as 2-thousand people gathered in hawaii to honor those killed in the surprise attack.
CBS
Dec 5, 2012 5:30pm PST
before that so- called fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> pelley: by top 2%, he means individuals making more than $200,000 and couples taking in $250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett
FOX
Dec 5, 2012 4:00am PST
week. avoiding the fiscal cliff is coming down to taxes. president obama told bloomberg tv yesterday he is willing to be flexible, but there will be no deal unless republicans agree to raise income tax rates on the top 2% of wage earners in america. this week the gop offered a proposal that continues tax breaks for everyone while making cuts to medicare and social security. the president and democrats say the lack of a tax hike on the wealthy is leaving budget talks at an impasse. "60% of americans support asking millionaires to pay slightly more. many republicans feel the same way. the only ones who feel differently are the ones who work in this building. we can't let these negotiations be dictated by the tea party." "we've wasted an enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. traders are keying off market moves for clues about the economy. scott bauer of trading advantage joins us now. scott, what is the gold market telling traders about the prosepects of the economy going over the fiscal cliff
CSPAN
Dec 6, 2012 7:00am EST
issues in general when it comes to the fiscal cliff. if you have questions about tax issues or comments about how taxes should be included in these discussions, he will be taking your calls. up next, we're going to have a look at republicans and the fiscal cliff negotiations with radio talk-show host and columnist armstong williams. that is coming up next as we continue the "washington journal." ♪ >> why a writers institute? i think it is very important within the culture. we are a culture of words, of voices. words are key to our imagination, our capacity to envision things. we ourselves are not completely tied to print on the page. but i think that there is no other art form so readily accessible other than perhaps -- but it is something -- there is something in literature that captures the humans. . >> this weekend, we look behind the scenes at the history and literary life of new york's capital city, albany, on c-span to and it c-span3. span3.c- [bell rings] >> this weekend on c-span3, follow harry truman's eldest grandson to hiroshima. >> everybody has their own view of what happ
FOX Business
Dec 6, 2012 7:00pm EST
the debt ceiling debate in the broader fiscal cliff discussion, clear where he was on taxes on the wealthy, a president who came out, and from the beginning, suggesting he's not moving off of his basic requirements, and republicans came a coup of different times making, at least, gestures towards a compromise. i think that suggests where the leverage really lies in this debate and negotiations. >> chris, seemssthe president's doing everything but taking snuff as he makes degrees and pronouncements, and the republicans for the life of me don't have a response, a message to meet and deal with the president. >> well, this is the starving time for the republicans. this is the bad season -- unhappy christmas for the republicans with the goal to get to the fiscal cliff, and get beyond that so that they can get to the debt ceiling. the debt ceiling is where they have leverage, advantage, and where the president is asking to increase the debt ceiling beyond the 2 #.2 trillion, these are american dollars, the $2.2 trillion that he was granted in borrowing power back in august. the republicans have
FOX Business
Dec 6, 2012 10:00pm EST
yesterday saying the white house is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frighted republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes acss the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming that gives him the executive power to raise the debt limit himself, but jay said today the white house studied that proposition and decided the president does not have that executive power meang we headed for another show down with congressver raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and fure all of this out, bui think we're ju
CBS
Dec 11, 2012 5:30pm PST
and house speaker john boehner talked by phone today about the so-called fiscal cliff-- those tax hikes for most americans and massive spending cuts that will kick in the first of the year unless two strike a budget deal. a republican source tells us that the president has cut his demand for more tax revenue from $1.6 trillion to $1.4 trillion, but the source said that the lower figure is no more acceptable to republicans. but the negotiations continue in private. the united states has a lot at stake in the syrian civil war. president obama has suggested that american firepower might be needed to prevent the dictatorship from using chemical weapons. we've learned that tomorrow the administration will endorse one of the rebel groups that is now fighting to overthrow bashar al- assad. who are these new american allies? clarissa ward found their leader in brussels. >> reporter: moaz al-khatib is the man chosen to lead a newly formed coalition of syria's opposition groups. what does it mean to be recognized by the u.s.? "the u.s. administration has big influence globally" he told us. "a ste
KRON
Dec 4, 2012 8:00pm PST
that fiscal cliff... of tax hikes and spending cuts gets triggered, negotiations still appear to be at a standstill, president obama told bloomberg news, the latest plan put forth by house speaker john boehner, simply does not add up. republicans have been equally dismissive of the last proposal from the president. tax rates on the wealthy remain the key sticking point between both sides. after a white house meeting tuesday, a bi- partisan group of governors expressed hope that an agreement will be reached soon. experts forecast economic turmoil in january, if a deal is not reached. >> john boehner took a break from the negotiations to help light of the christmas tree. eagle scout, from colorado springs helped out and there is. the crowd in cheers and the u.s. air force played " a christmas tree " and other holiday classics. this is a spruce tree from call rental white river national forest. it has 10,000 lights, ornaments and will be let in each night until the day after christmas. >> we are going to take a look at the golden gate bridge. dry roadways. the bulk of the
CBS
Dec 6, 2012 4:00am EST
administration is ready to go over the fiscal cliff if the gop doesn't bid on higher taxes. a poll shows nearly half of those ads say it's time to end talks cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes? >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect of an agreement that doesn't involve the tax -- remember, it's 207b8%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks could start soon, but now we learn that a lot of members of congress are heading out on a long weekend, not
FOX News
Dec 11, 2012 2:00am PST
the fiscal cliff. he is trying to head this off by bargaining with the president to keep the tax rates where they are now and provide revenue for rich people. in exchange mr. boehner wants the president to agree to serious reform to tax reform the biggest driver of the nation's debt. he wants to hire tax revenue and taxes on the rich. he has speak ennothing of entitlement. unreasonable? you bet. on top of it boehner is on attack for being a weak negotiator from the right. he is not a weak negotiator. he has a weak hand. >>> kelly wright is live in washington. hi, kelly. >> good morning to you ainsley. someone would hope so. three weeks from now americans will be celebrating a brand new year but it may be a year unof uncertainty if the white house fail to take action to avert the fiscal crisis or the cliff. president obama tock his message on the road speaking to auto workers to talk about the plan to cut taxes that will go into effect on january 1st if congress fails to act. >> what you need is a package that keeps taxes where they are for middle class families. we make some tough spending c
FOX Business
Dec 11, 2012 1:00pm EST
, this fiscal tax, cliff tax cliff. lori: we're with you. >> not going to happen. just not going to happen. there is no incentive to do so. lori: except for the fact shares evaporated so much from the $700 peak, right? >> yeah. the special dividend shows some assertiveness, financial strength, yes we have all the cash we can put it to work. at this point over the last three months apple shares have been down 17%. i think it is coming into question whether apple is the same apple that it was five years ago. melissa: for sure. >> it could certainly signal something but not going to happen right now. lori: appreciate that report. thanks, shibani. melissa: as more investors look for inflation hedges, hedge funds and endowments are hiding or adding hard assets to their stock portfolio. one to look at is medallion financial. robert gray spoke exclusively with the company's president. >> that's right, melissa. you can literally hail it as a public proxy for assets whose meter is running higher than other asset classes for decades. investors have long thought stock tips by cab drivers signal ad ma
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